Centene Corp. (NYSE:CNC) has received a consensus recommendation of “Buy” from the eighteen research firms that are covering the company. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $81.08.
Several research analysts have recently commented on the stock. Vetr raised shares of Centene Corp. from a “buy” rating to a “strong-buy” rating and set a $78.50 target price on the stock in a report on Monday, June 27th. Jefferies Group reissued a “buy” rating and issued a $80.00 price objective on shares of Centene Corp. in a research note on Wednesday, June 8th. Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of Centene Corp. in a research note on Wednesday, September 7th. Credit Suisse Group AG reissued a “buy” rating and issued a $78.00 price objective on shares of Centene Corp. in a research note on Thursday, September 1st. Finally, Leerink Swann reissued an “outperform” rating and issued a $80.00 price objective (up from $78.00) on shares of Centene Corp. in a research note on Monday, June 20th.
A number of institutional investors have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in Centene Corp. by 106.0% in the first quarter. Aperio Group LLC now owns 38,644 shares of the company’s stock valued at $2,379,000 after buying an additional 19,886 shares during the last quarter. IFP Advisors Inc raised its position in Centene Corp. by 6.9% in the first quarter. IFP Advisors Inc now owns 1,960 shares of the company’s stock valued at $121,000 after buying an additional 127 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Centene Corp. during the first quarter valued at $481,000. Ngam Advisors L.P. increased its stake in Centene Corp. by 19.0% in the first quarter. Ngam Advisors L.P. now owns 37,412 shares of the company’s stock valued at $2,303,000 after buying an additional 5,976 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in Centene Corp. by 11.5% in the first quarter. TIAA CREF Investment Management LLC now owns 1,796,776 shares of the company’s stock valued at $110,628,000 after buying an additional 185,181 shares during the period. Institutional investors and hedge funds own 92.92% of the company’s stock.
Shares of Centene Corp. (NYSE:CNC) traded down 4.39% during mid-day trading on Monday, hitting $64.02. 1,476,934 shares of the company’s stock traded hands. The company has a market cap of $10.93 billion, a PE ratio of 24.71 and a beta of 0.95. The firm has a 50-day moving average of $68.20 and a 200 day moving average of $65.65. Centene Corp. has a 52 week low of $47.36 and a 52 week high of $75.57.
Centene Corp. (NYSE:CNC) last announced its earnings results on Tuesday, July 26th. The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.09 by $0.20. Centene Corp. had a net margin of 1.19% and a return on equity of 14.27%. The company had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.80 billion. During the same period last year, the firm earned $0.72 earnings per share. The business’s revenue for the quarter was up 97.9% on a year-over-year basis. Equities research analysts predict that Centene Corp. will post $4.37 EPS for the current year.
Centene Corp. Company Profile
Centene Corporation is a diversified healthcare company that provides programs and services to government sponsored healthcare programs. The Company also provides education and outreach programs to inform and assist members in accessing appropriate healthcare services. The Company operates through two segments.
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